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Jamie Oliver businesses report double digit revenue growth for 2012

Jamie Oliver businesses report double digit revenue growth for 2012

Jamie Oliver's business empire continued to see strong growth with both Jamie's Italian and Jamie Oliver Holdings reporting double digit increases in revenue for the 12 months to 30 December 2012.

Revenue at the Jamie's Italian high street restaurant chain leapt by 30.3% to £93.9m, resulting in earnings before interest, tax, depreciation and amortisation (EBITDA) of £13.2m, up 19.3% year on year.

Profit before tax was £7.7m, a 7.5% lift on the previous year, after taking into account pre-opening costs and royalty payments of 1% of net sales to Jamie Oliver Enterprises Limited.

The Jamie's Italian group, which has just celebrated its fifth anniversary, opened six new restaurants and one new delicatessen in the UK, taking the total number of sites to 31 at the end of the financial period. New openings in Aberdeen and Greenwich since 31 December 2012 are reported to be outperforming expectations.

Jamie's Italian International was acquired by Jamie's Italian Limited and the number of international restaurants rose to three with the launch of the first Jamie's Italian in Dublin in October 2012.

Overseas expansion continued beyond the existing regions of Dubai, Australia and the Republic of Ireland into Hong Kong, China, Singapore and Russia with four new franchise agreements. After the financial period ended, two further franchise agreements for Turkey and Brazil were completed.

Meanwhile Jamie Oliver Holdings, which covers Oliver's cookbook and television activities, saw revenue growth of 13.3% to £35.3m (2011: £31.1m), which led to a pre-tax profit of £9.7m, up 8.4% on the previous year (2011: £9m).

Strong income from both Jamie's 15 Minute Meals and Jamie's 30 Minute Meals contributed to the performance of the business, the company said.

Jamie Oliver will publish his 15th book, Save with Jamie, in September. Aimed at showing readers how to cook low-cost meals, how to shop cleverly and how to use leftovers to reduce waste and save money, the book will be supported by a Channel 4 TV series, which will air in the same month.

The television production arm of Jamie Oliver Holdings, Fresh One Productions, also had a very good year making Jamie's 15 Minute Meals and Food Fight Club programmes. These, as well as non-Jamie Oliver productions, accounted for more than 60% of sales. Fresh Pictures made its first drama, Spies of Warsaw.

John Jackson, chairman of the Jamie Oliver Group of Companies, said: "Both businesses performed well in challenging trading conditions.

"In 2013 we will continue our international restaurant expansion and delivering outstanding products with real added value, great customer service and a range of delicious and nutritious meals as well as recipes to further strengthen and enhance the relationship we have with our valued customers."

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